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Tuesday, January 31, 2023

Circle Has Decided To Create Disaster Relief Fund

Circle, the main company behind the creation of the USDC stablecoin, has recently announced its partnership with Endaoment. This is a public charity that would help the company create a fund for disaster relief.

The fund would also be helping mid-western communities in America who have been greatly impacted by the tornadoes that rip the countryside apart. The two companies have major hopes of raising at least $1 million in grants that would support the American Red Cross and most of the local non-profits.

Circle Creates Disaster Relief Fund

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Through Endaoment, most enthusiasts of blockchain would be directly able to contribute to the USDC or other crypto-connected wallets with a minimum donation coming to $20. The funds from Circle will then be distributed in intervals of $20,000 to seven different participating charities- which are the Team Western Kentucky Tornado Relief Fund, Center For Disaster Philanthropy, Team Rubicon, All Hands and Hearts, Midwest Food Bank NFP, Mutual Aid Relief, and American Red Cross. Currently, they have received almost $4,600 in donations. 

Robert Heegerm the CEO and founder of Endaoment has stated that it is exactly through partners like Circle that the companies have been able to receive more than $11 million worth of donations to almost 300 nonprofits for the year. With the support from the company, they would be allowed to expand their reach and continue to empower the community with a bunch of charitable gifts which could be necessary during times of funding autonomously. 

The initiative taken up by Circle becomes even more important when we see an unusual cluster of tornadoes sweeping across the Southern and Midwestern states just a week back, with the wind speeds reaching around 150 mph. Kentucky was hit the hardest, with close to 74 fatalities, and around 100 mission persons still unaccounted for

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